Crypto market tumbles as Elon Musk’s DOGE arrives at the SEC
The crypto market continued its sell-off on Friday as a risk-off sentiment prevailed ahead of Donald Trump’s Liberation Day and after the strong US inflation data.
Bitcoin (BTC) crashed below $84,000, down by over 5.5% from its highest point this week. Most altcoins also dropped, with the most notable laggards being Polygon (POL), JasmyCoin (JASMY), Bonk (BONK), and Injective (INJ), which crashed by over 10%.
The main reason for the crypto market crash was a report by the Bureau of Economic Analysis that revealed that US inflation rose in February. That report raised the odds that the Federal Reserve will be more hawkish this year. However, a Bloomberg analyst expects the bank to cut rates rapidly in the second…
